New York State Gaming Commission approves sports betting proposal
The New York State (NYS) Gaming Commission has approved proposed legislation by the NYS Senate to legalise sports betting in the state of New York. The proposal will undergo a 60-day public comment period and could enter into force as soon as April.
After the consultation period, the Commission will either approve the regulations or put forward another shorter consultation period if large changes have been made. The proposed bill would see sports bets taken in state licensed casinos, including Native American casinos.
Casinos would apply for a sports pool licence, which would be additional to the current gambling licence they possess. Gross gaming revenue would be taxed at 10%, as this rate was already set in a 2013 law relating to the commercial casinos in the state.
Sports bets would only be allowed to be taken in so called sports wagering lounges and tickets cannot be sold outside of these zones. They will have automated ticket machines and must be clearly shown by signs.
Currently, bets would be allowed on professional sports and some college sports. This will require further clarification from the Gaming Commission. Horse racing and amateur sporting events will still be banned.
However, the current framework will not apply to mobile or internet sports betting. This is because a constitutional amendment to the state’s constitution will be required. That means that online betting could be up to three years away for New York residents.
Progress finally being made
Despite online betting not being possible for years, the state is finally making progress in its sports betting framework.
Governor Andrew M. Cuomo said initially that new legislation would be required for a regulatory framework to be constructed. He backtracked on that position, but then the Assembly didn’t approve a proposal put forward in the last legislative session of 2018.
The Commission has allowed the legislation to advance without any comments relating to the regulations.